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Amazon CEO Jeff Bezos is now world’s richest person

  • He overtook Bill Gates to take the title and he is now worth $90 billion
  • Bezos was previously world’s richest person but his reign only lasted for a day
  • Amazon’s share price surged after earnings figures from Whole Foods
  • The company’s sales are due to rise even more as the holiday season approaches  

Amazon CEO Jeff Bezos added $6.24 billion to his wealth, becoming the world’s richest person ahead of Microsoft founder Bill Gates.

The company’s third-quarter earnings far surpassed Wall Street expectations, helped by the acquisition of organic grocer Whole Foods and an increase in sales during its summer ‘Prime Day’ promotions.

As Amazon’s share price began to surge on the news, Bezos’s wealth shot up to more than $90 billion, according to calculations by CNBC and data from the Bloomberg Billionaires Index.

It is not the first time he has been the world’s richest person but his reign only lasted for one day, July 27th, this year.

The Amazon CEO has now become the world’s richest person in an afternoon after shares in his company surged

Bill Gates (left), the founder of Microsoft, was previously the world's richest person. Gates is now only worth $88 billion 

Bill Gates (left), the founder of Microsoft, was previously the world’s richest person. Gates is now only worth $88 billion 

Amazon’s share price went over $1,050 and Bezos’ paper fortune pushed past $90 billion but when its share price fell, Bezos was again behind Gates.

Amazon that it expects sales to rise during the busy holiday-shopping season. Its shares soared 8 percent in extended trading after releasing the results.

Amazon gained 465 physical stores after it paid nearly $14 billion for Whole Foods.

It also announced a series of new voice-activated Echo devices and it kicked off a public hunt for a place to build its second headquarters.

It now employs more than 540,000 people, a 77 percent jump from a year ago, with some of that growth coming from the Whole Foods acquisition.

But the company said it has been also hiring software engineers, sales representatives and others to work on its cloud computing business, video streaming service and its devices. 

 

 

Read more at DailyMail.co.uk


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